March 2019 Archives

Most businesses show signs of financial weakness before they cease operations or declare bankruptcy. Occasionally, a business will close without prior warning to employees or clients and commence a business bankruptcy proceeding. A high-end mental health treatment center in Auburn, near Knoxville, that focused on female clients recently closed its doors with no advance warning to clients or employees.

On behalf of Richard Banks & Associates posted in Personal Bankruptcy on Thursday, March 7, 2019.

Anyone in our state who is wondering about the wisdom of filing a Chapter 7 bankruptcy should make an effort to understand the kinds of assets that cannot be claimed by creditors. These assets are usually referred to as "exemptions" because they are exempt from the claims of creditors.

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